Cardano has been appointed by the Trustees of the GKN Group Pension Scheme, one of the UKs largest pension funds with assets of over 2 billion, to manage a 300 million discrete portfolio of active equity investments. Cardano will select and appoint managers on a fully discretionary basis.
“We are very pleased to have been selected by the GKN Trustees to manage this active equity portfolio. Trustees are increasingly looking to focus on achieving their high level objectives and delegate certain roles to investment professionals like Cardano. In this instance the GKN Trustees have delegated the investment decisions and implementation of their active equity portfolio to us,” says Phil Page, the GKN client manager at Cardano.
“Generating superior returns from equities is very important to the Trustees. We want an active approach to managing this specific part of our investments and decided that it makes sense to appoint a full time professional team suitably motivated to deliver targeted results. Cardano have demonstrated their hands-on approach and the ability to take responsibility for timely decision making. They were also keen to align their interests with ours with their remuneration geared to performance. Watson Wyatt will continue to be responsible for providing strategic and other investment advice to the GKN Trustees,” adds John Hughes, chairman of Trustees, GKN.